You’ve worked hard to build a successful business. You can’t work forever. The problem is, you don’t want to risk losing company value, employee jobs, or family wealth by leaving. If you ever hope to exit, you’re going to need a viable succession plan. We can help.
The first thing to consider will be the candidates for succession. You’ll have to make some difficult decisions about the most capable and appropriate talent to assume control after you’re gone. Obsidian Planning uses an analytical vetting process to help you determine everything from who might fit to who’s the best fit, so you’ll know when you’ve found the ideal successor.
You’ll also need to determine the target value of your company. Having a solid estimate of what your business will be worth helps to make financing the transition easier. We use a range of tools and indicators to evaluate the true quality of earnings and working capital requirements, so your leadership team is well-equipped for what comes next. When you have a clear understanding of what’s involved in the financial transfer of your company, you have more assurance that you’re maximizing your wealth without sacrificing the company’s future.
While determining the right future leadership team and a fair price can be challenging, knowing when and how to step away from your business can feel impossible. It’s one of the most emotional aspects of any business transition, which is why so many owners feel paralyzed and trapped by it. We can help you lessen that emotion through our impartial analysis of your personal goals and your business targets. Using these objective factors, you’ll be able to determine and plan for the optimal time and manner of your exit. We’re not saying that it will be easy, but a succession plan will make it more manageable.
Planning for the next phase of your personal and professional life can be daunting. We’ve helped small family businesses like yours for more than three decades. Our proficiency in identifying and managing the necessary details for business succession will help you best prepare for an equitable, collaborative transition that will safeguard your business legacy.